Answer
>fair Value of net assets = $
15600000 + 31200000 + 5200000 – 8000000 – 14000000
= $ 30,000,000
>Amount paid to acquire these net assets = $ 32,000,000
>Amount paid for Goodwill = $
32000000 – 30000000
= $ 2,000,000
>Answer to be entered = $ 2 millions
A |
Cost |
$ 19,500.00 |
B |
Residual Value |
$ 2,300.00 |
C=A - B |
Depreciable base |
$ 17,200.00 |
D |
Life [in years] |
5 |
E=C/D |
Annual SLM depreciation |
$ 3,440.00 |
Depreciation expense for 2021 = $ 3440
x 9 months / 12 months = $ 2580
Depreciation expense for 2022 = $ 3440 x 12/12 = $ 3440
Mainline Produce Corporation acquired all the outstanding common stock of Iceberg Lettuce Corporation for $32,000,000 in...
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